Melbourne Office Building Investment
For Sale
$1,895,000
2401 W Eau Gallie Blvd, Melbourne, FL 32935
10,047 SF office building with six units, 100% leased.
Property Size11,518 SF
Price / SF$188.61
Days on Market195
Property Features for 2401 W Eau Gallie Blvd
General Information
Standard status
Active
Size
11,518 SF
Class
C
Property subtype
Office
Building Details
Building Size
11,518 SF
Year Built
1993
Listing Agency:
Lightle Beckner Robison, Inc.
Listed By:
Rob Beckner, SIOR · License #FL #SL707053
(321) 863-3226
Source:
Teamlbr
Added: Mar 27
Changed: Sep 6
Last Checked: Oct 5 at 3:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lightle Beckner Robison, Inc.
Investment Insights
Based on property information with market context.
Located at 2401 W Eau Gallie Blvd in Melbourne, FL, this meticulously-maintained office building presents a prime investment opportunity. Constructed in 1993, the building has a total area of 10,047 square feet and features six suites. The property is currently 100% leased and has a parking ratio of 5 per 1,000 square feet. The building is zoned RP, offering flexibility for a range of office uses. The property features 100% office buildout.
Key Highlights
- 100% Leased: Provides immediate income.
- Prime Location on Eau Gallie Blvd: Offers high visibility and accessibility.
- 10,047 SF Office Building: Substantial size.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,720
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,734,400
$2.7M
Cap Rate 7%
$1,953,143
$2.0M
Cap Rate 9%
$1,519,111
$1.5M
Market Conditions
NOI Build-Up for 10,047 SF
Gross rent
$217.0K $21.60/SF
− Vacancy
−$34.7K −$3.46/SF
EGI
$182.3K $18.14/SF
− OpEx
−$45.6K −$4.54/SF
NOI
$136.7K $13.61/SF
Area
Brevard County, FL
Vacancy
16.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,734,400
Cap Rate 7%
$1,953,143
Cap Rate 9%
$1,519,111
Alternative Uses
Best Use
Office B
$1.95M
$1.71M – $2.28M
NOI $136,720 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.65M
$2.32M – $3.09M
NOI $185,548 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
901
Businesses Nearby
Explore this area
Business Placement
Demographics for 32935, FL
41,837
Population
20,338
Households
2.1
Avg Household Size
44
Median Age
28%
College-Educated
94%
High-School Grad
13.1 sq mi
ZIP Area
3,194
Density / Sq Mi
$63,841
Median Household Income
$38,094
Median Earnings
$1,404
Median Rent
$240,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 10,047 SF office building with six units, 100% leased.
Where is this office building located?
The property is located at 2401 W Eau Gallie Blvd Melbourne, FL.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 100% Leased: Provides immediate income.; Prime Location on Eau Gallie Blvd: Offers high visibility and accessibility.; 10,047 SF Office Building: Substantial size.
